JPMorgan Chase & Co. Cuts Jones Lang LaSalle (NYSE:JLL) Price Target to $285.00

Jones Lang LaSalle (NYSE:JLL) had its price target decreased by analysts at JPMorgan Chase & Co. from $327.00 to $285.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 35.18% from the company’s current price.

JLL has been the topic of a number of other reports. Raymond James upped their price target on shares of Jones Lang LaSalle from $317.00 to $320.00 and gave the company a “strong-buy” rating in a research note on Friday, January 24th. StockNews.com raised Jones Lang LaSalle from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 22nd. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $323.33.

Jones Lang LaSalle Price Performance

Jones Lang LaSalle stock opened at $210.83 on Thursday. The company has a current ratio of 2.00, a quick ratio of 2.29 and a debt-to-equity ratio of 0.12. The business’s 50 day simple moving average is $254.37 and its 200 day simple moving average is $261.71. Jones Lang LaSalle has a 12 month low of $171.45 and a 12 month high of $288.50. The company has a market cap of $9.99 billion, a price-to-earnings ratio of 18.67 and a beta of 1.22.

Jones Lang LaSalle (NYSE:JLL) last posted its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $6.15 earnings per share for the quarter, topping the consensus estimate of $5.76 by $0.39. The company had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.65 billion. Jones Lang LaSalle had a return on equity of 10.20% and a net margin of 2.33%. The firm’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.23 EPS. Sell-side analysts forecast that Jones Lang LaSalle will post 16.45 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of JLL. HighTower Advisors LLC raised its position in shares of Jones Lang LaSalle by 6.0% in the third quarter. HighTower Advisors LLC now owns 3,325 shares of the financial services provider’s stock worth $903,000 after buying an additional 189 shares in the last quarter. Quantinno Capital Management LP purchased a new stake in shares of Jones Lang LaSalle in the 3rd quarter valued at about $384,000. Stifel Financial Corp boosted its position in shares of Jones Lang LaSalle by 101.9% during the 3rd quarter. Stifel Financial Corp now owns 7,644 shares of the financial services provider’s stock valued at $2,062,000 after acquiring an additional 3,858 shares during the last quarter. MML Investors Services LLC grew its holdings in shares of Jones Lang LaSalle by 204.7% during the third quarter. MML Investors Services LLC now owns 3,358 shares of the financial services provider’s stock worth $906,000 after purchasing an additional 2,256 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its stake in Jones Lang LaSalle by 11.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 589 shares of the financial services provider’s stock valued at $159,000 after purchasing an additional 59 shares in the last quarter. 94.80% of the stock is owned by institutional investors.

About Jones Lang LaSalle

Jones Lang LaSalle Incorporated operates as a commercial real estate and investment management company. It engages in the buying, building, occupying, managing, and investing in a commercial, industrial, hotel, residential, and retail properties in Americas, Europe, the Middle East, Africa, and the Asia Pacific.